THE IMPACT OF PROFESSIONAL ETHICS OF ACCOUNTANTS, FINANCIERS, AND TAX SPECIALISTS ON BUILDING TRUST IN FINANCIAL REPORTING

Abstract

The article explores the role of professional ethics of specialists in accounting, finance, and taxation in building trust in financial reporting. The focus is on analyzing key ethical principles such as integrity, objectivity, confidentiality, professional competence, and due care, which form the foundation of transparency and reliability of financial information. The importance of adhering to professional standards is emphasized in the modern context of globalization, where economic processes become more complex, and the volume of financial transactions increases. The purpose of this study is to analyze the impact of the professional ethics of these specialists on the trust in financial reporting, to determine the main ethical principles that must be observed, as well as to identify potential risks that arise in case of neglect of ethical norms The challenges faced by professionals due to management pressure, high competition, and the temptation for quick enrichment are examined. Violations of ethical norms under these circumstances lead to corruption, financial fraud, and misrepresentation of reports, undermining trust in the profession and the economic system as a whole. The article provides examples of how ethical violations impact companies’ reputations and financial conditions, particularly highlighting the case of Enron. Results. Special attention is given to the International Code of Ethics for Professional Accountants developed by the International Federation of Accountants (IFAC), which establishes global ethical standards for accounting and finance professionals. This document is considered an effective tool for ensuring the uniformity of ethical requirements at the international level, preventing financial fraud, and strengthening trust in financial reporting. The article highlights the importance of education and certification as tools for fostering an ethical culture. The role of educational programs and certification courses aimed at studying ethical standards and analyzing practical cases is discussed, helping professionals make informed decisions in challenging situations. Special emphasis is placed on the need for continuous improvement of professional knowledge to maintain high standards of ethical conduct.